Ashoka Buildcon stock surges 2% on securing LoI for road project

10 Aug 2022 , 11:24 AM

Ashoka Buildcon Limited informed that the Company had submitted its bid in Joint Venture to the Department of Information Technology & Communication, Govt. of Rajasthan for the Project viz. ‘Request for proposal for selection of agency for construction and maintenance of Rajiv Gandhi Fintech Digital Institute located atJodhpur’.

The Company has received Letter of Intent from the Authority and  the accepted Bid Project Cost for the Project is Rs599.99 crore against quoted Cost of Rs611 crore. The share of the Company in Joint Venture is 65%.

The estimated construction period is 18 months from commencement date, the company said.

At around 11:27 AM, Ashoka Buildcon was trading at Rs76.85 per share up by Rs1.8 or 2.4% from its previous closing of Rs75.05 per share on the BSE.